The refinance business for private MIs fell 11.0% from the second to the third quarter, dropping to 30.6% of their production. Still, that’s well above historic norms...
Commenting on the stubbornly high Ginnie measurement, MBA's Fratantoni noted it shows that recovery is not uniform “and that many are still struggling to gain their footing.”
While the supply of VA loans in Ginnie MBS continued to grow during the third quarter, the volume of securitized FHA forward mortgages fell 2.7% from the end of June.